ANNOUNCEMENT 26 Sep 2013

In September 2013, the government of Republic of Korea announced a change in import duties.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



"2013 Tax Revision Bill Finalized" http://english.mosf.go.kr/


Inception date: 26 Aug 2013 | Removal date: 24 Feb 2014
Still in force

Import tariff

On 26 September 2013 the Tax Revision Bill was finalised. In addition to a number of domestic tax measures this bill included a proposal to reduce temporarily by 50% customs duties on imported machines used for factory automation. Previously the reduction in duties was set at 30%. The measure is to expire on 31 March 2014.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
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